Guideline Value for KAMARAJ STREET (S.NO.239/1)

Kamaraj Street (S.No.239/1) guideline value

The current guideline value of Kamaraj Street (S.No.239/1) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kamaraj Street (S.No.239/1) has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. In 2002, the value was Rs 251 per sq.ft, which increased to Rs 285 per sq.ft in 2003, marking a change of +14%. The value then rose to Rs 405 per sq.ft in 2007, reflecting a significant increase of +42%. Following this, the value surged to Rs 2,300 per sq.ft in 2012, which was a remarkable increase of +468%. However, in 2017, the value decreased to Rs 1,541 per sq.ft, showing a decline of -33%. The 2023 revision saw the value rise to Rs 2,300 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,500 per sq.ft, an increase of +9%.

There are no figures available for the revisions in the years not listed above. The overall change from 2002 to 2024 is a substantial increase of +896%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in Padi is Rs 3,800 per sq.ft, indicating that Kamaraj Street's 2024 figure is below this median.

• Kamaraj Nagar (Padikuppam Main Road): Rs 5,400 per sq.ft (2024)
• Kamaraj Nagar Lane: Rs 4,400 per sq.ft (2024)
• Kambar Street: Rs 3,400 per sq.ft (2024)
• Kanniappan Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kalaivanar Nagar 'yesunathar Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "vinayagar Koil Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street (S.No.239/1)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Street (S.No.239/1)?

The Sub Registrar Office that covers Kamaraj Street (S.No.239/1) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO here.

How the guideline value is used when you buy or sell in Padi

The guideline value is a critical factor in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the buyer must pay the applicable stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Kamaraj Street (S.No.239/1)?

The current guideline value of Kamaraj Street (S.No.239/1) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 251 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of +896% over this period.

What are the stamp duty and registration fees for a property on Kamaraj Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 25,00,000. The stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles registrations for Kamaraj Street?

The Villivakkam Sub Registrar Office handles registrations for Kamaraj Street (S.No.239/1). The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the guideline values of other streets in Padi?

Other streets in Padi have varying guideline values. For example, Kamaraj Nagar (Padikuppam Main Road) is valued at Rs 5,400 per sq.ft, while Kalaivanar Nagar 'yesunathar Street' is at Rs 2,200 per sq.ft.